Notes to Accounts of UV Boards Ltd.

Mar 31, 2016

a. Deferred Tax Liability or Asset resulting from timing difference between book and taxable profit is accounted for considering the tax rate and laws that have been enacted or substantively enacted as on the balance sheet date.

b. Deferred Tax Asset is recognized and carried forward only to the extent that there is virtual certainty with convincing evidence that there will be sufficient future income to recover such deferred tax asset.

a) Cash Credit and Short Term Credit from Indian Overseas Bank is secured by stock and receivable not exceeding 90 days of the company, first charge on the fixed assets of the company, and further secured by personal guarantee of the whole time director of company and a Third Party who has also given his land as collateral security. The cash credit is repayable on demand and carries interest @ 12.20% p.a.

b)Short Term Credit from Banks as on 31.03.2015 carries interest rate ranging from 1% to 2%.

f) Amounted remitted during the year in foreign exchange on account of dividend for the previous year - Nil

g) Under Micro, Small & Medium Enterprises Development Act 2006, certain disclosures are required to be made relating to such enterprises. In view of the insufficient information from suppliers regarding their coverage under the said Act, no disclosure have been made in the accounts. However, in view of the management the impact of interest if any, that may be payable in accordance with the provisions of the Act is not expected to be material.

i) Consequent to the adoption of Accounting Standard 15 on Employee Benefits as notified by the companies (Accounting Standard) Rules 2006, the following disclosure have been made as required by the standard. i. The Company has recognized the following amounts in the Profit and Loss Account towards contribution to defined contribution Plans which are included under contribution to provident and other funds:

k) In the opinion of the Board of Directors Current Assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount stated. l) The notes referred to in the Profit & Loss Account and Balance Sheet form an integral part of accounts.

Mar 31, 2015

1. ADDITIONAL INFORMATION TO FINANCIAL STATEMENT

a) Contingent Liability and Capital e

i) Service Tax demand - Rs.Nil (31.03.2014 - Rs.249,225/-).

ii) The company has extended a corporate gurantee to the extent of
Rs.9,30,73,500/- to IOB Singapore for various credit facilities availed
by its wholly owned subsidary Elementz Trading PTE Ltd. However
Elementz Trading PTE Ltd ceased to be a Subsidiary with effect from
20.02.2015. The company is in the process of withdrawing the bank
guarantee.

e) Amounted remited during the year in foreign exchange on account of
dividend for the previous year - Nil

f) Under Micro, Small & Medium Enterprises Development Act 2006,
certain disclosures are required to be made relating to such
enterprises. In view of the insufficient information from suppliers
regarding their coverage under the said Act, no disclosure have been
made in the accounts. However, in view of the management the impact of
interest if any, that may be payable in accordance with the provisions
of the Act is not expected to be material.

ii) Consequent to the adoption of Accounting Standard 15 on Employee
Benefits as notified by the companies (Accounting Standard) Rules 2006,
the following disclosure have been made as required by the standard.

3. The Company has recognized the following amounts in the Profit and
Loss Account towards contribution to defined contribution Plans which
are included under contribution to provident and other funds:

5. In the opinion of the Board of Directors Current Assets, Loans &
Advances have a value on realisation in the ordinary course of business
atleast equal to the amount stated.

6. The notes referred to in the Profit & Loss Account and Balance Sheet
form an integral part of accounts.

Mar 31, 2014

A) Contingent Liability and Capital Commitments

i) Service Tax demand - Rs.249,225/- (31.03.2013 - Rs.249,225/-)
against which company has filed as appeal before Commissionerate of
Central Excise (Appeals)

ii) The company has extended a corporate guarantee to the extent of
Rs.9,30,73,500/- to M/s. Indian Overseas Bank, Singapore for various
credit facilities availed by its wholly owned subsidiary M/s. Elementz
Trading Pte Ltd., Singapore.

iii) Capital Commitments - Nil (31.03.2013 - NIL).

Mar 31, 2013

A) Contingent Liability and Capital Commitments

i) Service Tax demand -Rs.2,49,225/-(31.03.2012-Nil) against which
company has filed as appeal before Commissioner ate of Central Excise
(Appeals)

ii) The company has extended a corporate guarantee to the extent of
Rs.8,53,12,500/- to IOB Singapore for various credit facilities availed
by its wholly owned subsidiary Elements Trading PTE Ltd.

e) Amounted remitted during the year in foreign exchange on account of
dividend for the previous year - Nil

f) Under Micro, Small & Medium Enterprises Development Act 2006,
certain disclosures are required to be made relating to such
enterprises. In view of the insufficient information from suppliers
regarding their coverage under the said Act, no disclosure have been
made in the accounts. However, in view of the management the impact of
interest if any, that may be payable in accordance with the provisions
of the Act is not expected to be material

g) Related Parties:

Wholly Owned Subsidiary Company : ELEMENTZ TRADING PTE LTD

Key Management Personal N.lyyappan - Whole Time Director

h) Consequent to the adoption of Accounting Standard 15 on Employee
Benefits as notified by the companies (Accounting Standard) Rules 2006,
the following disclosure have been made as required by the standard.

4. Amounts remitted during the year in foreign exchange on account of
dividends for the pervious year

NIL

5. Under Micro, Small & Medium enterprises Development Act 2006,
Certain disclosures are required to be made relating to such
enterprises. In view of the insufficient information from suppliers
regarding their coverage under the said act no disclosures have been
made in the accounts. However, in view of the management the impact of
interest if any, that may be payable in accordance with the provisions
of the Act is not expected to be material.

6. Contingent Liability

31.03.2010 31.03.2009

Guarantees issued by the
banks on Behalf of the Company Nil Nil

7. In the opinion of the Board of Directors Current Assets, Loans &
Advances have a value on realization in the ordinary course of business
at least equal to the amount stated.

8. Term Loan from Axis Bank Ltd is primarily secured by First charge
on the Fixed assets of the Company. Cash Credit from Axis Bank Ltd is
secured by hypothecation of inventories & receivables and Corporate
guarantee of M/s.Uniply Industries Ltd.

11. Consequent to the adoption of Accounting Standard 15 on Employee
Benefits as notified by the Companies (Accounting Standard )Rules 2006,
the following disclosers have been made as required by the standard.

12. The Schedules referred to in the Profit & Loss Account and Balance
Sheet form an integral part of accounts.